C21 Primary Metal and Metal Product Manufacturing

China steel output may fall 25pc

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Original article by Angus Grigg, Jennifer Hewett, Phillip Coorey, Amanda Saunders
The Australian Financial Review – Page: 1 & 6 : 7-Apr-15

The price of iron ore fell to $US47 per tonne in early April 2015, and it has now shed 63 per cent since the beginning of 2014. Australian economist Ross Garnaut has forecast that steel production in China will decline by 27 per cent in the next 15 years, which would in turn affect demand for Australian iron ore. Meanwhile, Chris Richardson of Deloitte Access Economics notes that the continued fall in the iron ore price will slash Australia’s national income and tax revenue

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, VALE SA, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, BC IRON LIMITED – ASX BCI

Arrium chief slams inaction on dumping

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Original article by Tim Binsted
The Australian Financial Review – Page: 26 : 19-Feb-15

Australian-listed steelmaker and iron ore miner Arrium has posted a 2014-15 interim loss of $A1.5bn. The result was marred by $A1.3bn worth of impairment charges associated with its iron ore assets. The group’s mining division posted operating earnings of $A77m, compared with $A423m previously. CEO Andrew Roberts has urged the Anti-Dumping Authority to act more quickly to curb the importation of low-cost steel

CORPORATES
ARRIUM LIMITED – ASX ARI, AUSTRALIA. ANTI-DUMPING AUTHORITY, ALLAN GRAY AUSTRALIA PTY LTD, SOUTHERN IRON PTY LTD

Alcoa’s turnaround a shot in the arm for Alumina

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 14-Jan-15

The stock of Alumina on 13 January 2015 closed 4.2% higher at $A1.96. The reason was the release in the US by partner Alcoa of its profit data for calendar 2014. It recorded a fourth-quarter net earnings result of $US159m ($A194m) and a full-year one of $US268m, which were recoveries from the previous year’s losses of $US268m and $US2.3bn respectively. Alcoa manages and holds 60% of the Alcoa World Alumina & Chemicals business, and Alumina’s sole asset is a stake of 40% in that enterprise

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED – ASX AAI, ALCOA WORLDWIDE ALUMINA AND CHEMICALS, CITIGROUP PTY LTD

‘Outbreak of commonsense’ may save smelter

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Original article by Chip Le Grand
The Australian – Page: 1 : 23-Oct-14

Aluminium producer Alcoa in early 2014 announced the closure of the Point Henry smelter operation in Geelong. This sparked concerns that its other facility, at Portland, would also be shut once an electricity supply deal ends in November 2016. However plant manager Peter Chellis has now welcomed an announcement by Federal Industry Minister Ian Macfarlane that he wants to exempt the smelter from the renewable energy target. This is estimated to bring annual cost savings of about $A10m, and may help secure the jobs of 540 staff and 180 contractors

CORPORATES
ALCOA INCORPORATED – ASX AAI, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY, AUSTRALIAN ALUMINIUM COUNCIL LIMITED

Arrium plunge in wake of raising

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Original article by Matt Chambers, Barry FitzGerald
The Australian – Page: 19 : 19-Sep-14

The share price of steel and iron ore miner Arrium fell on 18 September 2014 after its capital raising. The company wanted to raise $A754 million. However, only 79 per cent of institutional shareholders participated, raising $A465 million. Arrium’s stock dropped by $A0.0165 to a record low of $A0.40

CORPORATES
ARRIUM LIMITED – ASX ARI, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD

Aluminium could win RET exemption

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 18-Sep-14

There is some support for exempting the aluminium industry from the Renewable Energy Target (RET). Australian Labor Party Leader Bill Shorten is sympathetic to the unique position of the industry. Miles George, the CEO of renewable energy company Infigen Energy, conceded that the aluminium industry is a special case. However, all parties have warned that undermining the RET would threaten investment and jobs in the renewable energy sector

CORPORATES
INFIGEN ENERGY LIMITED – ASX IFN, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, IFM INVESTORS PTY LTD

Lynas shares slide as fears mount over debt burden

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 1-Aug-14

The stock of Australian-listed rare earths group Lynas Corporation closed 17% lower at $A0.17 on 31 July 2014. The market reacted to concerns that the company may struggle to make a repayment of $US35m ($A37.5m) on its debt by the 30 September deadline, as well as to data in its output report for the June quarter. While Lynas unveiled an increase of 117% year-on-year to 1,882 tonnes in shipments from its Malaysian plant, the price achieved fell by over $US4 to $US18.25 a kilogram

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, SOJITZ CORPORATION, JAPAN OIL GAS AND METALS NATIONAL CORPORATION, DEUTSCHE BANK AG